Buy Eur at 1.2335 | 06 March 2018
06 March 2018, EUR/USD
Technical Observation:
Since February 20th this year, Eur established a resistance line 1.2346 and just brokeout above it yesterday. This is a major breakout and while the price is above this line, a bullish momentum towards 1.3420 is highly expected. In the meantime, I'm still waiting for signs that this breakout will hold, otherwise, a clear pullback below it will mean the price may descend even lower. As it is on the hourly chart above, only long positions looks more appealing and can be advised with a take profit at 1.3450.
Technical Levels
Resistance levels
R1: 1.2367
R2: 1.2398
R3: 1.2479
Pivot
1.2318
Support Levels
S1: 1.2157
S2: 1.2238
S3: 1.2287
Trade Signal
Buy Eur at 1.2335 towards 1.3450
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
